The Yes Bank stock on Wednesday plummeted over 15 per cent because of uncertainty in its proposed $2-billion fund raising plan.

The fall in the stock comes a day after the lender said its board was willing to favourably consider the offer of $500 million received from Citax Holdings and Citax Investment Group.

However, the bank did not make any concrete announcement on the fate of the other offers that it had received.

On the BSE, the stock opened lower at Rs 49.30 and slumped further by 19.48 per cent to Rs 40.70 during intra-day trade. It later settled at Rs 42.80 with a loss of 15.33 per cent. On the National Stock Exchange, the scrip tanked 13.85 per cent to end at Rs 43.55.

Reacting to the announcement, analysts at Nomura, who had earlier said that they were wary about the quality of investors, pointed out that the proposed investment of $1.2 billion by Erwin Singh Braich/SPGP Holdings was unlikely to go through. This would put into question the availability of some of the other bids as they could have been conditional on raising a large part of the capital from Braich. It warned that risks to the bank will have an implication on the sector.

A Macquarie report said that if the bank was unable to raise money in the next six months, it ‘poses a grave danger’ to the financial system.